Solana breaks past $200: Should you cash in, or wait some more?

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Solana breaks past $200: Should you cash in, or wait some more?
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Solana smashed the $180 resistance level to pieces and soared to highs not seen since December 2021, and the bulls could push higher still.

fell below the $70k level on the 15th of March, SOL was trending higher. It breached the $180 mark on that day.Solana’s major retracement has simply not occurred after the January drop to $79. The RSI on the daily chart was at 88, deep in the overbought territory.The OBV trended higher since late January. The buying volume has been phenomenal, and SOL has gained 26x since the 2022 low at $8. Above the$180 mark, resistance overhead was scant.

The $259 and $276 levels were areas of interest, as was the $202 region. However, this zone could be retested as support, since the market has been parabolic recently.A drop below these levels would indicate a bearish structure on the 1-hour timeframe and a potential shift in momentum on higher timeframes.The Open Interest chart showed no signs of slowing down. According to Coinglass data, the OI behind Solana reached highs never seen before.

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